Republican Congressman Tom Emmer presents Bill from Ban Fed's CBDC

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Von: Krypto News Österreich

Am 22. Februar stellte der republikanische Kongressabgeordnete Tom Emmer vom US-Repräsentantenhaus einen Gesetzentwurf vor, um der Federal Reserve (Fed) die Ausgabe einer digitalen Zentralbankwährung (CBDC) zu verbieten. Der „CBDC Anti-Surveillance State Act“ zielt darauf ab, die finanzielle Privatsphäre amerikanischer Bürger zu schützen, indem er die Schaffung eines CBDC durch die Fed ohne vorherige Überprüfung und Genehmigung durch den Kongress verbietet. Emmer argumentierte, dass die Schaffung eines CBDC die finanzielle Privatsphäre und die Freiheit des Einzelnen negativ beeinflussen könnte, da Behörden und Regulierungsbehörden es als Instrument zur Verfolgung und Kontrolle der Ausgaben der Bürger nutzen könnten. Heute habe ich das CBDC …
On February 22, the Republican Congressman Tom Emmer from the US House of Representatives presented a draft law to ban the Federal Reserve (FED) to issue a digital central bank currency (CBDC). The "CBDC Anti-Surveillance State Act" aims to protect the financial privacy of American citizens by prohibiting the creation of a CBDC by the Fed without prior review and approval by the congress. Emmer argued that the creation of a CBDC could negatively influence the financial privacy and freedom of the individual, since the authorities and regulatory authorities could use it as an instrument to pursue and control the expenditure of the citizens. Today I have the CBDC ... (Symbolbild/KNAT)

On February 22nd, Republican Congress Member Tom Emmer from the US Representative House presented a draft law to ban the Federal Reserve (FED) the output of a digital central bank currency (CBDC).

The "CBDC Anti-Surveillance State Act" aims to protect the financial privacy of American citizens by prohibiting the creation of a CBDC by the Fed without prior review and approval by the congress.

Emmer argued that the creation of a CBDC could negatively influence the financial privacy and freedom of the individual, since the authorities and regulatory authorities could use it as an instrument for persecution and control of the expenditure of citizens.

Today I introduced the CBDC anti-surveillance state act to stop the efforts of not chosen bureaucrats in Washington, DC to withdraw their right to financial privacy. 👇 pic.twitter.com/lonbhfzmk7

- Tom Emmer (@gopmajoritywhip) 22. February 2023

Emmer further explained that the draft law of the Fed prohibits to publish a CBDC directly to anyone, which prevents them from using a CBDC to implement monetary policy and control of the economy, and set the framework for more transparency in such projects.

The Congressman made it clear that he is not against technological innovations that could go hand in hand with the creation of a CBDC. However, he emphasized that these innovations should not violate the rights of citizens.

Financial privacy has priority

The creation of a CBDC could have a significant impact on financial privacy. Since CBDC transactions were recorded in a blockchain, the authorities could pursue and pursue financial transactions in real time. This has aroused concerns about data protection and surveillance as well as the possibility of a government intervention in financial matters.

Proponents argue that CBDCs could bring many advantages, including greater financial inclusion, lower transaction costs and faster settlement times. In addition, CBDCs could be an alternative to traditional banking services for people who have no access to them.

Emmer has been an advocate of blockchain technology and cryptocurrencies for several years and demands regulation that promotes Innovation and growth in the industry without harming people. Emmer is known for his efforts to promote the introduction of crypto and to promote the growth of the industry.

He spoke out to receive part of his payment in crypto and has also expressed his concern about how the government dealt with the arrest of Sam Bankman-Fried. Coinbase has its name on the list of politicians who "very much support" crypto.

China's dominance in CBDC development

China was a leader in CBDC development and in 2020 started a pilot program for its digital currency. While other countries have examined the possibility of issuing such a product, China took the lead and have taken the lead and cross -border tests with countries such as Z, as well as the United Arab Emirates, Hong Kong and Thailand.

Chinas Digital Yuan has been under development since 2014 and is already used in 23 regions of the country, which facilitates the transfer of over 100 billion yuan (approx. 15.5 billion US dollars). If he is accepted worldwide, he could become a significant competitor of the US dollar and China give a greater presence in the global economic scenario.

While the United States examined the possibility of introducing its own CBDC, China's dominance continues to grow in the world of digital currencies and has the potential to redesign the global financial landscape.

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